Bernard Madoff: No Exposure in CT State Pension

The state pension fund has no exposure to the losses related to Bernard Madoff, the well-known investor who was arrested on what authorities say was a $50 billion Ponzi scheme.

Howard G. Rifkin, the state's deputy treasurer, said Tuesday that the state pension fund has no investments with Madoff, whose name became well known in the investment world as the former chairman of the Nasdaq Stock Market.

Currently, the state pension fund has no investments with any hedge funds, although the process has been started that would allow those investments in the future.

As a public fund, the state pension fund is invested only in assets that have transparency, Rifkin said.

Where's Blumentahl on this in Fairfield where First Selectman Flatto just changed the value of our Madoff pension investment line form $44 million to $0. Six weeks ago Flatto was telling the town he had the best pension in the nation. I didn't blieve him then and I know its not true now. I think the reason Bloomie hasn't spoken on the obvious negligence by Flatto is because of his unwavering layalty to Flatto.